An old Windows share driver, this file replaced the MS-DOS file share.exe. Vshare.386 ran in enhanced mode and allowed for file sharing across a workgroup, even if Windows was not running. Vshare.386 has not been packaged with Windows installations since Windows 95 was introduced. Founded in 1975, Microsoft's Windows Operating System is on more than 90% of IBM Compatible PCs.
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Note: Any malware can be named anything - so you should check where the files of the running processes are located on your disk.
If a "non-Microsoft" .exe file is located in the C:\Windows or C:\Windows\System32 folder, then there is a high risk for a virus, spyware, trojan or worm infection!
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Per "support.microsoft.com": Many Windows-based applications that support OLE 2.0 require file-sharing and file-locking capabilities to be enabled. This is accomplished by loading VSHARE.386 in the [386Enh] section of the SYSTEM.INI file or by loading SHARE.EXE in the AUTOEXEC.BAT file. See also: LinkHenry

upper memory manager from old DOS days for dBase 3.0 etc Doug

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Is vshare.386 spyware or a virus, trojans, adware or worm? Is there a known vshare.386 error?